(a)
When an international banking corporation licensed to maintain an international
bank branch or an international bank agency in this State is dissolved or its
authority or existence is otherwise terminated or canceled in the jurisdiction
of its incorporation, a certificate of the official responsible for records of
banking corporations of the jurisdiction of incorporation of the international
banking corporation attesting to the occurrence of this event or a certified
copy of an order or decree of a court of the jurisdiction directing the
dissolution of the international banking corporation or the termination of its
existence or the cancellation of its authority shall be delivered to the
Commissioner. The filing of the certificate, order, or decree has the
same effect as the revocation of the international banking corporation's
license as provided in G.S. 53-232.9(d).

(b)
An international banking corporation that proposes to terminate the operation
in this State of an international bank branch, an international bank agency, or
an international representative office in this State shall comply with any
procedures as the Commissioner may prescribe by rule to insure an orderly
cessation of business in a manner that is not harmful to the public interest
and shall surrender its license to the Commissioner or shall surrender its
right to maintain an office in this State, as applicable.

(c)
The Commissioner shall continue as agent of the international banking
corporation upon whom process against it may be served in any action based upon
any liability or obligation incurred by the international banking corporation
within this State before the filing of the certificate, order, or decree; and
the Commissioner shall promptly cause a copy of the process to be mailed by
registered or certified mail, return receipt requested, to the international
banking corporation at the post office address specified for this purpose on
file with the Commissioner's office. (1991, c. 679, s. 1.)